Mumbai (Maharashtra) [India], December 30 (ANI): The Nifty 50 index opened at 23,796.90 with a marginal decline of 16.50 factors or 0.07 per cent, whereas the BSE Sensex opened at 78,637.90 factors with a decline of 61.17 factors or 0.08 per cent.
Experts famous that weak shopping for sentiments within the markets have dampened the potential of a year-end rally. Markets are anticipated to stay underneath stress, and any sharp motion is prone to come solely after Donald Trump’s coverage bulletins in his second time period.
Ajay Bagga, Banking and Market Expert advised ANI mentioned, “Looking like a dull week ahead for Indian markets with Santa Claus deciding that market investors did not deserve a rally this year. Asian markets are soft on the back of the tech led slight fall in US markets on Friday. As Trump takes charge of the White House on 20 th Jan, all eyes will be on his first few Executive orders. Stock markets will wait for clarity as with Trump, every statement is to create opportunistic space for negotiations. Not looking good for now for global or Indian markets”.
In the sectoral indices on the NSE, all sectoral indices opened with a decline, and promoting stress dominated the markets. In the Nifty 50 checklist, 14 shares opened within the inexperienced, whereas 36 shares declined.
The prime gainers included Adani Enterprises, Adani Ports, Bharti Airtel, ITC, and Nestle India. The prime losers included BPCL, ONGC, Hindalco, and JSW Steel.
“Support remains inside the 23500 and 23640 areas. As before, a daily close above 24150 is needed for bulls to reassert themselves. Seasonally speaking and based on 25 years of data, the Nifty has risen 71 per cent of the time in the last two days of the calendar year with average and median returns of 0.7 per cent and 0.4 per cent, respectively” mentioned Akshay Chinchalkar, Head of Research, Axis Securities.
In 2024, the market began with weak sentiment. After that, it outperformed with back-to-back bullish candles, making new highs. However, from October onwards, it has been falling sharply on account of heavy FII promoting, exceeding Rs 1,70,863 crore within the final three months.
Uncertainty surrounding the U.S. Presidential Election, tensions within the Middle East, rising bond yields, a robust dollar, blended earnings stories for the September quarter, and elevated stock valuations have all contributed to a grim outlook.
“Nifty 50 is trading around strong resistance at 23800. As we are stepping into a new year, this key level is one to definitely note for 2025. 24650 and 25300 act as strong resistance levels. A breakout above these levels would indicate a strong bullish rally in 2025. 23300 acts as a crucial support level. A breakdown below this support would signal a strong downtrend” mentioned Sunil Gurjar, SEBI Registered Research Analyst, Founder- Alphamojo Financial Services.
In different Asian markets, Japan’s Nikkei 225, Hong Kong’s Hang Seng, and Taiwan’s Weighted Index had been down on the time of submitting this report, whereas South Korea’s KOSPI was up marginally. (ANI)